Mr. Xu is currently an assistant president of Shanghai Industrial Investment (Holdings) Company Limited ("SIIC").

Mr. Xu is also an executive director and the chief financial officer of SIIC Environment Holdings Ltd., the shares of which are listed on the Main Board of the Singapore Stock Exchange, and a director of certain other subsidiaries of the Group.

Mr. Xu graduated from Shanghai Jiaotong University and BI Norwegian School of Management with a bachelor’s degree in engineering and a master’s degree in management studies, and is a fellow member of The Association
of Chartered Certified Accountants.

He was an assistant general manager of Shanghai Galaxy Investment Co., Ltd. and assistant general manager of the finance & planning department of SIIC.

He is currently the managing director of Shanghai Galaxy and the chairman and general manager of SIIC Aerospace Galaxy Energy (Shanghai) Co., Ltd. Mr. Xu has many years’ experience in finance and investment financing.